Newport Coast Ca Blog

We here at LifeStyles Realty continuously monitor local real estate statistics to keep our clients informed and ahead of the real estate trends. Below you will find Crystal Cove real estate statistics for the first week of January 2009!

• Number of Homes currently on the market: 40
• Number of Homes in escrow (pending or back up):1

Crystal Cove has not been as adversely affected by the current market conditions as many other neighborhoods. This community will be under construction for many years with the Custom Home lots currently being sold at a slow but consistant rate by the Irvine Co! We expect to see some rather spectacular homes built in this beautiful ocean community.  Currently Crystal Cove home sellers are unwilling to give in and holding steadfast to their prices and we are seeing inventory remaining fairly even. Yes, you may see a few price reductions and even an occassional “good buy” but over all this area appears to be relatively untouched by the economic woes. Lately we have seen many homes previously available for sale changed to leases. This affords the sellers a chance to wait out the market and hope for a better time to sell.  This also helps to decrease the inventory and may in the long run increase demand. Economist are very split as to when we will see a turn around but many upscale communities such as this one will weather the storm fairly well. Use the link below to seel all current Crystal Cove Listings

SEE ALL CRYSTAL COVE LISTINGS HERE!!!!

Discover what the highly sought after community of Crystal Cove can offer you! Let Mary Burke be your resource to finding your dream home in Crystal Cove, Newport Coast, Ca..There is no obligation and it’s just a call 949-275-6544 or email away!!

There have been many recent stories on television and in the paper talking about how many homes are for sale now, how it is taking longer to sell, and how some sellers are giving concessions to get their homes sold! And now we are officially declared in a recession!

Some sellers are considering waiting to sell their homes in belief that the housing market will improve. Many homes on the market are priced at 15-25% below the previous year and we are in a declining market. Yes, the market is definitely in the buyer’s favor right now. 

However, the  number of houses for sale had increased each year for four or five years, but for the first time inventory is declining…

As a seller it is tougher, but as a buyer you are more in the driver’s seat. Though you may not get quite a much for your current home, your next home will also be priced lower than it would be otherwise. This year was marked by foreclosures and short sales and the market has lost about 20-25% of value. While this means that sellers cannot expect as much for their homes as last year, it also means for sellers that are moving up - their future home will not cost as much as they expected. If you’re planning a move to a higher price range, it should actually be in your favor. Interest rates are  historically low and could go lower with some of the current fed plans! That’s another story yet to come!

If you are planning to move in the next 18 months, then you may want to consider moving now to take advantage of the low interest rates and current price reductions. Remember that taxes are also calculated on the price of the homes so lower prices could work considerably in your favor!

Currently in Irvine and Newport Coast inventory is declining and in some neighborhoods and price ranges there are actually very few homes for sale! If your home is in one of these neighborhoods it could be a good time to sell-Less competition!

If you would like a free list of homes for sale in the Newport Coast or Orange County area, would like more information about Irvine or any of the surrounding communities, or would like to be the first to know about hot new listings before other buyers do, then E-mail Mary Burke at Mary@NewportCoastHome.com  or give me a call at: 949-275-6544. I lookforward to hearing from you!

As another year comes to a close we now pause for reflection on the past year while looking forward to what the future holds in store for us all. For many 2008 has been a very difficult year! The New Year brings us a chance for a new beginning and renewed hope for the future!  

Wishing you and your family good health, happiness and prosperity in 2009!